During SFY 2025, the SRF Program will be offering a competitive nonpoint source funding incentive to encourage implementation of locally directed, water quality improvement projects.
Beginning with General Nonpoint Source (GNS) project applications received by the December 1, 2025 application deadline, projects eligible for placement on the PPL will also be scored using the Special Purpose Scoring Criteria outlined in the current Intended Use Plan (IUP) (Appendix C – Project Ranking Criteria) to determine eligibility for this special purpose financing opportunity.
Funding Opportunity:
Direct loans will be offered to eligible applicants at 0% interest for up to $500,000 per GNS project. Loan amounts can be up to 100% of the project costs with no limitation on total project amounts and project costs above $500,000 will be funded at the current SRF interest rate. This incentive will be available on a first come, first-funded basis until all available funding has been obligated. Projects can be co-funded with other federal and non-federal funding sources.
Eligibility Requirements:
Projects scoring a minimum of 10 points out of 20 may be offered special purpose funds.
Eligible Borrowers:
Public entities with the ability to issue a bond or another funding source available to repay a CWSRF loan are eligible. Borrowers must be an owner of record or demonstrate long-term control of the project area.
Timeline:
The first round of applications will be accepted by December 1, 2024 for the fourth quarter of SFY 2025 IUP. Notices of application scores and funding approval will be available by mid-January 2025. Subsequent project applications will be accepted quarterly the first working day of March, June, September and December.
DRAFT Application:
The current GNS application and associated application/project review process will be accepted up to September 1, 2024 which is the deadline for SFY 2025 Q3 IUP applications. After September 1, 2025, all GNS applications eligible for placement on the PPL will use the DRAFT GNS application (see link below) and will be scored using the Special Purpose Scoring Criteria outlined in Appendix C of the current IUP.
Public comments on the DRAFT GNS application and the Special Purpose Funding Opportunity will be accepted through July 5th, 2024 at srf-pc@dnr.iowa.gov